Title: QUIZ: Regional Banks Explained -- Fed Explained Video Series
Course: Kelly's Copy-Export Course > Section: Regional Banks Explained -- Fed Explained Video Series

Q: What makes the U.S. central bank different from other central banks around the world?
- It is responsible for fiscal policy.
- It consists of only one bank, headquartered in Washington, D.C.
- It has a decentralized structure.
- It is not geographically diverse.
A: It has a decentralized structure.

Q: About every six weeks in Washington, D.C., the heads of the 12 regional Reserve Banks get together with the seven members of the Board of Governors to share economic information and discuss monetary policy. This group is called
- the Federal Open Market Committee. 
- the Board of Directors Meeting.
- the Federal Reserve Committee. 
- the President’s Club. 
A: the Federal Open Market Committee. 

Q: Economic data and forecasts are used by the Federal Open Market Committee to
- decide marginal tax rates.
- inform monetary policy.
- determine the appropriate level of government spending.
- make changes to government benefits programs.
A: inform monetary policy.

Q: The Atlanta Fed’s Regional Economics Information Network
- reports economic data to Congress on a monthly basis.
- decides on tax policy for the president.
- gathers economic information from regional contacts and scholarly studies.
- does not inform the FOMC.
A: gathers economic information from regional contacts and scholarly studies.

Q: Outside of REIN, the regional economic information network, what other Federal Reserve System group regularly gathers local economic information and reports on their industries to inform monetary policy?
- The President’s Council of Economic Advisors 
- The Federal Open Market Committee 
- The Boards of Directors for each Federal Reserve
Bank and Branch
- The Advisory Boards 
A: The Boards of Directors for each Federal Reserve
Bank and Branch

Q: What is a central bank?
- The largest bank in a country
- An organization that is responsible for overseeing the monetary system of a nation
- An organization that conducts fiscal policy for the nation
- A banking organization that is located in one central place for all of its functions
A: An organization that is responsible for overseeing the monetary system of a nation

Q: Our central bank is made up of
- a board in Washington D.C. called the Board of Governors. 
- the president, along with the Treasury secretary.
- 12 regional banks and the Board of Governors in Washington, D.C.
- 50 state banks and a central office in Washington, D.C. 
A: 12 regional banks and the Board of Governors in Washington, D.C.

Q: Why is the Federal Reserve geographically diverse?
- To give every state a vote on the Board of Governors 
- Because the Federal Reserve Act requires that there be one bank in each part of the country, north, south, east, and west
- Because it is important that the Fed can get economic information from all over the nation
- Because there are only 6 Reserve Banks
A: Because it is important that the Fed can get economic information from all over the nation

Q: Monetary policy influences
- income tax rates.
- interest rates and therefore the flow of credit.
- only a small part of the economy.
- interest rates, but not credit markets.
A: interest rates and therefore the flow of credit.

Q: REIN stands for
- Regional Economic Information Network.
- Regional Economy Intelligence Network.
- Rural Economic Information News.
- Regional Economy and Investment Network.
A: Regional Economic Information Network.